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Abstract
This article makes basic cost accounting understandable. It is an easy read. Nine business examples are provided to show the wide use of the concepts. These concepts can be applied to the business portions of government, colleges, and non-profit organizations.
Pricing a product or service for less can improve the bottom line in some situations. Businesses blend cost accounting and key business revenue drivers, along with the marketing loss leader concept. This blending can be especially important during slow business periods.
Many organizations improve their financial position for off peak periods by trying to maximize their contribution margin at off peak. They are willing to accept less profit or even a loss at off peak demand. They want to minimize their losses at off peak demand.
ACKNOWLEDGMENT
The key editor for this article was Peter Missen, Principal Auditor, Portsmouth City Council, United Kingdom